\textit{Income process} &  &  \\ 
\quad Labor income growth & $ \mu$ & 0.01  \\ 
\quad Labor income volatility & $ \sigma$ & 0.10  \\ 
\quad Income multiplier when retired & $ \chi_R$ & 0.70  \\ 
\quad Transition probability to unemployment & $ \lambda_{EU}$ & 0.05  \\ 
\quad Transition probability to employment & $ \lambda_{UE}$ & 0.80  \\ 
\quad Income multiplier when unemployed & $ \chi_U$ & 0.60  \\ 
\textit{Asset prices} &  &  \\ 
\quad Interest rate & $ \log R $ & 0.05  \\ 
\textit{Household preferences} &  &  \\ 
\quad Relative risk aversion & $ \gamma$ & 1.50  \\ 
\quad Impatience parameter & $ \beta$ & 0.95  \\ 
\quad Bequest preference & $ b$ & 0.02  \\ 
